[Startup Interview] Ancel Bwire, CEO, Ancywax, Uganda
Ancywax is a research, media and marketing startup domiciled in Uganda’s capital Kampala that has since 2014 been offering clients a cocktail of services from idea to implementation through a model dubbed Concept Development.
Ancel Bwire the CEO elaboarates about the startup’s business model and plans moving forward.
Introduce your company
Ancywax is a company that provides creative solutions in media, marketing and consultancy. We undertake our work through a process called Concept Development. The idea is to give an organization services from idea up to implementation.
When was it founded and by who?
The company came to existence in July 2014 and was founded by Ancel Ochino Bwire who also serves as the CEO. Ancel used to work for a Swedish business accelerator Global Business Labs between 2013 and2016. He had already founded the company by the time he left the accelerator.
Who are the owners of the company?
The company is co-owned by Ancel Ochino Bwire and Mercy Elizabeth Mubadi.
Where is your company located?
We are in a suburb called Kisementi in Uganda’s capital Kampala.
How is it financed?
We normally finance Ancywax through the monies generated from service sales to clients as well as commissions from partners.
What industry does Ancywax operate in?
We operate in the Concept Development industry specifically for research, marketing and consulting.
Why did you start your Ancywax? What opportunities did you see?
We saw a gap in the market where there were no organizations that could come in and support an entrepreneur from idea up to implementation. One could have an idea but how will they test it? Even the ones who have began where would they market? Again, the more mature ones were facing financing especially for expansion, product development.
So we came up with a model where a client will get all this and for it to be executed we sought partners especially on research and consulting and thankfully they saw our vision and came along as they were also facing challenges in getting clients so it was a win-win.
What problem or problems does your company solve?
We offer market research to those who are starting out but are not sure of the way forward. We also extend our services to include marketing, documentation, financing and organizational training.
What are the unique selling points of Ancywax?
We help with modelling your business then still test it through marketing services and also in financing since we work closely with financiers. We also have a pool of partners who can help an organization solve its technology, training, finance needs without them going elsewhere.
We also help refine businesses through analyzing and advising them further on what approaches to utilize.
Who are your customers?
We have worked with 96 clients so far from Uganda, US, UK, Kenya and India. These companies include Vodafone, MOGAS, Yellow Star Produce and Food Processors, Titan Logistics LLC, RedBus, Digital Health Access, ORI Rides among others. We work with clients who are open minded, creative and have a budget for business services.
In your opinion, what are the dynamics that shape the media, marketing and research industry?
Our industry is a highly competitive one as there are many sector players who have service provision not only in Uganda but across the world. This makes it at times difficult to get clients since they could be getting services from even individuals.
What does your company need in order to grow?
We will need to invest more into automation so as to reach more clients beyond Uganda. This means we will have to come up with market driven tools that organizations can use to help them solve their challenges. We are currently looking at this so hopefully we shall have something out.
What is your growth strategy?
We are looking at raising funds for our automation tools hopefully next year. We believe the future of the business is platforms so we are actively studying the gaps that we can fill in with these.
In which markets are you looking to further establish your presence?
As an African based organization we would be interested to venture across the continent. Egypt, DRC, Tanzania, Zambia, Zimbabwe, Nigeria, Ghana and Sudan are of particular interest to us.
What are your plans for the coming 12 months?
Ancywax will be looking to hire more account managers to help in managing clients work. We will also be increasing our advertising presence digitally, get at least 15-20 new clients from across the world.
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